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Screen Shot 2016-12-14 at 11.03.09 PM.png - 1 t’ou go to...

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Unformatted text preview: 1] t’ou go to the casino and play roulette. You decide to place bets that the ball will land on the number 13. [in a roulette wheel there are the number lmflfi, {i and 'DB'. Thus the likelihood that you win any one spin is 1 in BB. ‘Fou decide to play 1!} times, thus you are in Binomial Land and the potential results of your gambling will be drawn from a binomial distribution B[:1[1|,1,aI 33]. What is the probability that you win: [a] 1 time? [lnpts) [b] 2 times? [1mpts] 2] If you win, placing one to the bets above, the casino will pay you $36 for every $1 you wager. You decided to wager $1 on each often spins above. [a] How many of the ten spins do you need to win in order to leave with more $ than you started with? [En-p13] 3] Instead of placing bets on a single number, you decide to place bets that the ball will land on a 'red number’. [in a roulette wheel there are 18 red number, 13 black numbers and the two green numb ers:fl', and’fl'il’. [a] What is the rprobability of success: p for any single spin'? [lupts] [b] What is the probability that if you play 6 spins, you win exactly 3 of them? [in-pt} 4] If you are in IrBinomial Land’ and 'n’ is relatively large, the Binomial Distribution will look a lot like the [a] distribution. [$th 5] If you have a Binomial distribution B[n,p], then the distribution in 'a' will have [a] mean mu = [1-pts] [b] and standard deviation sigma = . [l—r-pis] ...
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